Jelly
03-21-2006, 10:54 AM
moving big on news. Wait for a dip if you're playing...
>LOS ANGELES, March 21, 2006 (PRIMEZONE) -- Victor Industries (OTCBB:VICI) (the
"Company") is pleased to announce it has executed a letter of intent with San
Diego-based Ethos Environmental, Inc. ("Ethos"), and expects a merger to be
completed in the near future. Merger discussions with Ethos commenced because
the Company's previously contemplated transaction with FSP was progressing
slower than initially anticipated, directly leading to the Company's termination
of those negotiations in favor of bringing to fruition a merger with Ethos on an
expedited basis.
As noted in earlier releases, the Company intends to issue a stock dividend to
its shareholders in a newly formed Idaho corporation, Envirotech Industrial
Group ("EIG"). Immediately following the issuance of such a dividend, existing
Company shareholders will hold a position in EIG, which will immediately begin
the process to become publicly traded on the OTC Bulletin Board. This will
effectively give the present Victor Industries shareholders an interest in two
publicly traded companies.
Ethos offers a unique, patented fuel additive that results in a cleaner fuel
upon ignition. Ethos Fuel Reformulator, better known as Ethos FR, works with
many fuels, including jet fuel, natural gas, diesel and gasoline, resulting in
lower fuel costs, fewer emissions and lower maintenance costs. The introduction
of this patented product is very timely in light of rising fuel and energy
costs.
In a recently released article regarding Ethos, it is noted that Ethos has
conducted testing in conjunction with several foreign countries, including
China, over the course of the last four years. Presently, Ethos is conducting
tests with the U.S. Military in two separate locations. Fleet operators, such as
Allied Waste Services, a leader in the solid waste industry, have been using
Ethos FR along with Bio-Diesel in their fleet for four years, resulting in
reduction in emissions and reduction in fuel costs.
Ethos has been in operations for more than six years with substantial sales last
year, and substantially greater orders already this year. Importantly, Ethos has
recently acquired a facility with over 70,000 square feet to meet the
continuously growing demand for its products.
For additional information on Ethos, please visit www.ethosfr.com.
This news release may contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Act of 1934, as amended; such statements are subject to risks and
uncertainties that could cause actual results to vary materially from those
projected in the forward-looking statements. The Company may experience
significant fluctuations in operating results due to a number of economic,
competitive and other factors. These factors could cause operations to vary
significantly from prior periods, and those projected in forward-looking
statements. Information with respect to these factors which could materially
affect the Company and its operations are included on certain forms the Company
files with the Securities and Exchange Commission.
CONTACT: Victor Industries Inc.
(800) 949-1230
www.VictorIndustries.com
>LOS ANGELES, March 21, 2006 (PRIMEZONE) -- Victor Industries (OTCBB:VICI) (the
"Company") is pleased to announce it has executed a letter of intent with San
Diego-based Ethos Environmental, Inc. ("Ethos"), and expects a merger to be
completed in the near future. Merger discussions with Ethos commenced because
the Company's previously contemplated transaction with FSP was progressing
slower than initially anticipated, directly leading to the Company's termination
of those negotiations in favor of bringing to fruition a merger with Ethos on an
expedited basis.
As noted in earlier releases, the Company intends to issue a stock dividend to
its shareholders in a newly formed Idaho corporation, Envirotech Industrial
Group ("EIG"). Immediately following the issuance of such a dividend, existing
Company shareholders will hold a position in EIG, which will immediately begin
the process to become publicly traded on the OTC Bulletin Board. This will
effectively give the present Victor Industries shareholders an interest in two
publicly traded companies.
Ethos offers a unique, patented fuel additive that results in a cleaner fuel
upon ignition. Ethos Fuel Reformulator, better known as Ethos FR, works with
many fuels, including jet fuel, natural gas, diesel and gasoline, resulting in
lower fuel costs, fewer emissions and lower maintenance costs. The introduction
of this patented product is very timely in light of rising fuel and energy
costs.
In a recently released article regarding Ethos, it is noted that Ethos has
conducted testing in conjunction with several foreign countries, including
China, over the course of the last four years. Presently, Ethos is conducting
tests with the U.S. Military in two separate locations. Fleet operators, such as
Allied Waste Services, a leader in the solid waste industry, have been using
Ethos FR along with Bio-Diesel in their fleet for four years, resulting in
reduction in emissions and reduction in fuel costs.
Ethos has been in operations for more than six years with substantial sales last
year, and substantially greater orders already this year. Importantly, Ethos has
recently acquired a facility with over 70,000 square feet to meet the
continuously growing demand for its products.
For additional information on Ethos, please visit www.ethosfr.com.
This news release may contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Act of 1934, as amended; such statements are subject to risks and
uncertainties that could cause actual results to vary materially from those
projected in the forward-looking statements. The Company may experience
significant fluctuations in operating results due to a number of economic,
competitive and other factors. These factors could cause operations to vary
significantly from prior periods, and those projected in forward-looking
statements. Information with respect to these factors which could materially
affect the Company and its operations are included on certain forms the Company
files with the Securities and Exchange Commission.
CONTACT: Victor Industries Inc.
(800) 949-1230
www.VictorIndustries.com